Transcription
So, every earning season we hear CEOs talk about AI investments, right? But where today can you actually point to measurable ROI?
Nowhere, other than for the semiconductors company. Micron, SK Hynix, Samsung, they are living high on the hog. They're doing great. Nvidia, same deal. Broadcom, kind of same deal. Though Broadcom has to do weird debt deals, they have a $35 billion deal where Anthropic borrows $35 billion to buy TPUs from them. It's a mess. You're not really seeing any returns anywhere.
Most companies do not disclose their AI revenues. As I mentioned, Microsoft $37 billion run rate, which is month divided by 12, maybe, they don't define it. Amazon $15 billion run rate, same deal. Those are not their AI revenues. That's a unspecific month times 12. For the across the board, people don't report AI revenues other than Salesforce which has some pathetic amount of annualized revenue, I think 900 million or a billion annualized for a couple makes 40 billion or more a year. And IBM, very specifically last quarter said we are no longer disclosing these.
Now, here's here's the thing. Public companies love good news. They love telling you things. When a public company stops telling you something, it's usually cuz it's bad. Usually cuz they don't want you to think about it too much. And that's the story across the board. The only thing we hear out of companies about AI and money is how much it's costing them.